Financials defy holiday mood by making gains

The holiday mood was more than evident on the Iseq yesterday, with volumes weak almost everywhere in the market.

The holiday mood was more than evident on the Iseq yesterday, with volumes weak almost everywhere in the market.

A small exception came in the banks, where buyers started to float in after the US opened better in the afternoon.

The market as a whole was ahead by 0.75 per cent at the close, with the financials providing the main driver.

AIB was a notable performer, with shares finishing seven cent stronger at €19.85 after moving ex-dividend by 25 cent.

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Bank of Ireland rose by 24 cent to €14.45, while Anglo Irish broke out of its recent range by touching €11.70. The bank closed at €11.60, up 10 cent on the day.

Irish Life & Permanent was another good performer, adding 45 cent to finish at €19.45 on fairly light volume.

FBD was strong too, climbing by 85 cent to €38.45.

Elsewhere, IAWS did well as investors rewarded the firm for its North American growth strategy. Shares rose by 35 cent to €15.05.

Staying in the food sector, Kerry was solid as it rose by 21 cent to €16.21. Greencore was flat at €4.10.

Blackrock International Land became the only newsmaker on the day after announcing the €4.5 million purchase of an office block in Milton Keynes. Shares ended the session flat at 38 cent.

Fyffes, the company that spun out Blackrock earlier this year, fell by two cent to €1.40.

CRH made decent progress, albeit on fairly light volume. The stock added 30 cent to close at €26.00. Interim results are due on August 29th.

Grafton also strengthened, rising by eight cent to €10.38.

Qualceram Shires, which moved ex-dividend by 3.75 cent, fell by four cent to €1.25.

Back with the big names, Ryanair shed five cent to close at €7.55, failing to win any credit for its raft of new Dublin routes that it announced yesterday.

C&C, which will issue a pre-close update at the end of the month, rose by nine cent to end the day at €8.72.

Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times